Roku Stock: 3 Reasons the Best Is Yet to Come
Roku (NASDAQ: ROKU) shareholders have been taken to the woodshed over the last couple of years, but its long-term investors finally got some redemption this past week. The streaming stock surged in the wake of the company's third-quarter earnings report and finished the week up a whopping 50%.
After several quarters of weak revenue growth, Roku's top line increased by 20% in the quarter to $912 million, crushing analysts' consensus estimate of $853.2 million. It also returned to profitability on an EBITDA (adjusted earnings before interest, taxes, depreciation, and amortization) basis -- well ahead of when it forecast it would in 2024 -- with a profit of $43.4 million.
Other key metrics were also strong. Streaming hours were up 22% to 26.7 billion, and active accounts rose 16% to 75.8 million.
Source Fool.com
Roku Stock
Currently there is a rather positive sentiment for Roku with 33 Buy predictions and 7 Sell predictions.
With a target price of 93 € there is a hugely positive potential of 67.09% for Roku compared to the current price of 55.66 €.
